As rivals Manchester United, who won the title, and Chelsea prepare for Wednesday night's Champions League final clash in Moscow, the Gunners have been left to reflect on what might have been.

For most of the campaign, Wenger's young team set the pace as they moved clear at the top of the Premier League table and would go on to knock European Cup holders AC Milan out in the San Siro.

However, their drive for domestic honours fell just short - finishing four points off the pace - as a run of draws in the wake of losing striker Eduardo da Silva to a broken leg on an afternoon of high drama at Birmingham on February 23 proved costly before they then lost key clashes at both Stamford Bridge and Old Trafford.

European heartbreak also followed as Arsenal were knocked out by Liverpool in the quarter-finals, where a loss of concentration at Anfield in the second leg moments after netting a crucial second away goal came back to haunt them.

Wenger, though, maintains each and every one of his players will have "matured" from such a rollercoaster ride and return to pre-season training hungry for success.

"Overall this team has made a huge improvement compared to last year. We were always in the race for the championship until the last three games," the Arsenal manager said.

"We have combined quality with efficiency, but lacked a bit of experience to make the final step."

Wenger told Arsenal TV Online: "We have to realise we were very close to winning both [Premier League and Champions League] and that we have to come back to get that little bit extra which makes us winners of both competitions.

"We have made a tremendous improvement and want to develop - the average age of our team is very young and we can only be better if we have the right spirit next year.

"The team gained a lot of experience with our disappointments. Suffering makes you more mature and that is why I think at the start of next season you will see a team which is much more mature in its behaviour.

"If we can add a bit more experience and talent, that is even better."

Wenger accepts the events at St Andrews, where the Gunners were pegged back to a 2-2 draw following a controversial penalty in the final moments, were the turning point of a season which until then had promised so much.

He reflected: "We could not win the next game, and then confidence dropped a little bit.

"Then every time after that when we were in a situation leading 1-0, we did not have the same drive going forwards, we just wanted to keep the result because we had less confidence. That all started at Birmingham."

Wenger has already lost one of his squad, with Mathieu Flamini walking out on a free transfer to join AC Milan - which ironically means the France international will not be playing Champions League football next season after Milan finished only fifth in Serie A.

The future of Belarus winger Alexander Hleb remains the subject of much speculation, with Inter said to be monitoring the situation closely.

Veteran goalkeeper Jens Lehmann has, though, played his last game for the Gunners and is on the brink of signing for German side Stuttgart.

Meanwhile, Roma midfielder Alberto Aquilani could be in line for a move to Emirates Stadium, according to his agent.

Aquilani has impressed this season as he helped Roma to second spot in Serie A and could be a straight replacement for Flamini.

The player's representative, Vincenzo Morabito, said the 23-year-old could be tempted into a move if he does not get an improved contract from Roma.

"We are negotiating with Arsenal," Morabito told Italia Uno. "It remains to be seen whether Roma know how to keep their youngsters happy."